2015-04-01

GoDaddy IPO Puts Lipstick on the Pig, Raises $460 million

IPO Preview: GoDaddy (GDDY) | Seeking Alpha: "Per share dilution -$48.54 vs. IPO mid-range of $18 (private equity sucked out as much cash as possible). Price-to-tangible book -.6, one of the lowest we've seen (low is worse)." (emphasis added)Domain Mondo finds it ironic that GoDaddy decided to launch its IPO on April Fools' Day--today, April 1, 2015. In any event the private equity owners must be satisfied with the results thus far, raising $460 million in the IPO, and initial trading indicating a $4 billion valuation.